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ABA: The American Bankers Association
Compliance News

FDIC Updates Enforcement Actions Manual

The FDIC has updated its formal and informal enforcement actions manual regarding the assessment of mandatory civil money penalties for violations of the National Flood Insurance Act of 1968. The Flood Act requires the FDIC to assess a penalty of up to $2,000, adjusted annually for inflation, per violation per loan against an insured depository institution for certain pattern and practice violations of the Flood Act.